What’s next? – DAX 11.08.17

Fri, Aug 11 2017, 11:43 GMT

by Fort Financial Services

The DAX futures traded 0.29 percent lower at 11,964.0 points as of 06:50 GMT on Friday, extending previous loses as downbeat data continued to weigh on market sentiment.

The German benchmark ended 1.15 percent lower at 12,014.30 points by the closing bell, with basic resources, insurance and consumer goods pushing it down to 3-month lows.

To the upside we’ve seen Thyssenkrupp adding 0.82 percent to 25.770, Prosiebensat 1 Media rising 0.71 percent to 33.990 and Bayerische Motoren Werke up 0.02 percent to 80.050.

Heading to the south, Henkel & Co plunging 4.11 percent to 114.45, Deutsche Bank falling 3.09 percent to 14.420 and Muench. Rueckvers. down 2.29 percent to 177.35.

In economic news, Germany’s consumer price index showed a 0.4 percent build, in line with market analysts expectations. Ahead in the session, traders will be paying close attention to the same report from the United States at 12:30 GMT. A 0.2 percent growth rate is seen.

Yesterday, the US producer price index showed an unexpected reduction of 0.1 percent, compared to an initially estimated 0.1 percent.

The current market situation is marked by the Korean geopolitical crisis for two reasons. First, because the greenback loses value against the euro. And second, due to the fact that market fear is always weighing on sentiment and boosting risk aversion among investors.

As we’ve expected, the German CPI had basically no effects on the benchmark. Now seems like a good time to open long positions, but we would suggest waiting until further signals on the conflict between the US and North Korea come forward to count on a certain direction.

Published on Fri, Aug 11 2017, 11:43 GMT

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